Investment by Korean conglomerates before and after the crisis
This paper analyzes the investment behavior of the Korean corporate sector before and after the 1997 financial crisis. Using firm-level data, we find that after controlling for investment profitability and cash flows, Korean conglomerates ('chaebol')-affiliated firms, particularly ones with low-managerial ownership, made significantly higher investments than non-chaebol firms before the crisis. In contrast, this difference in investment volume between chaebol and non-chaebol firms is no longer...[Show more]
|Collections||ANU Research Publications|
|Source:||Japan and the World Economy|
|01_Hong_Investment_by_Korean_2007.pdf||566.37 kB||Adobe PDF||Request a copy|
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